DBS, OCBC drag STI into the red

DESPITE a rise in the Dow futures, the Straits Times Index (STI) drifted to a 5.85-point loss at 3,320.67 on Monday, weighed down mainly by falls in DBS Group and OCBC Bank. Turnover at 1.7 billion units worth S$1.06 billion was below last week's average of around S$1.3 billion and, excluding warrants, there were 171 rises versus 297 falls.

Brokers spoke of the banks, and by extension the index, encountering upward resistance after their stron…